NuVasive secures $29.3 million in funding

Medical device company marketing systems for minimally invasive spine surgery

NuVasive, Inc., a privately held medical device company that designs, manufactures and markets minimally invasive spine surgery systems, recently announced the completion of its equity round of financing for $29.3 million. William Blair Capital Partners VII, a private equity investment fund affiliated with Chicago investment bank William Blair & Company, LLC led the financing. Also participating were Sofinov, Société Financière d'Innovation, AM Pappas & Associates, and RS Coinvestment Fund, LLC. Existing investors Kleiner Perkins Caufield & Byers, Enterprise Partners and Domain Associates, LLC also invested in the round. The proceeds will primarily be used to support the recent product launch of the Company's minimally invasive spine surgical products, and to continue to enhance the current systems.

NuVasive's direct sales force is currently marketing products to surgeons and hospitals which include the INS-1 real-time nerve location system, the SpineArc surgical guide frame, Vector Cannulae for less traumatic access to the spine and a variety of working instruments and implants (Triad Spine EndoArthrodesis System).

"For the first time, minimally invasive spine surgery coupled with real-time nerve surveillance gives a clinician safe and reproducible access to the spine while reducing surgery and rehabilitation time for the patient," said Alex Lukianov, President and CEO of NuVasive. "We believe the ability to treat all spine pathologies and even facilitate a fusion through a minimally invasive approach could become the standard of care. With the completion of this significant round of capital, we will have the resources to pursue our worldwide marketing and sales efforts along with further expansion to our development pipeline of new proprietary products," Mr. Lukianov concluded.

"We believe NuVasive could generate attractive returns for investors because its products are on the leading edge of a large unmet medical market, and their management team has a proven track record in the medical device arena," said Dr. Arda Minocherhomjee, Managing Director of William Blair Capital Partners VII. "At William Blair Capital Partners, our goal is to generate long-term capital gains for investors by investing in companies with innovative products and outstanding management teams, and NuVasive possesses the traits we consider important for success."

About NuVasive, Inc.

NuVasive, headquartered in San Diego, is a privately held medical device company that designs, manufactures and markets minimally invasive spine surgery systems. The Company's expertise is in minimally invasive posterior access to the spine, novel fusion constructs, treatment of nerve related pathology, and alternative treatments for degenerative disc disease. This proprietary technology platform combines guided pathology targeting using a real-time nerve location surveillance system (INS-1), consistent instrument placement using a surgical guide frame (SpineArc), less traumatic access to the spine using novel expanding cannulae (Vector Cannulae) and a variety of working instruments and implants (Triad Spine EndoArthrodesis System). For additional information please visit the Company's website at www.nuvasive.com

About William Blair Capital Partners

William Blair Capital Partners VII is a $403 million private equity limited partnership headquartered in Chicago and is the seventh fund affiliated with William Blair Capital Partners. Since 1982, William Blair Capital Partners has invested in well-managed growth companies across a variety of industries. William Blair Capital Partners healthcare investing is approximately 20 to 25% of the funds investments. For more information visit www.wbcp.net .

Source: NuVasive, Inc.

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